COMMERCIAL ITEMS

Dominion, Volume 13, Issue 80, 30 December 1919, Page 8

COMMERCIAL ITEMS

[ CUSTOMS .REVENUE. . Customs revenue collected at the port of Wellington yesterday amounted to .- £2992 19s. Bd. LONDON WOOL SALES. The Bank of New Zfoland has received . the following advice from its London : ' offico under date December 22:—"The .sales ■ have closed weak, with downward tendency. Compared with opening rales for this scries prices have fallen 71 per cent, to 10 per cent, for merino and fine crossbreds, 10 per cent, to 15 per cent, for medium and coarse crossbred.*." Messrs. Levin and Co.. Ltd., have re--1 ceived the following cahlcerani from London, dated December 22:—"As compared with the opening sales of this month ' : the Dccombcr closing sales show:—Merinos, 10 per cent, lower; fine crossbreds, 71 per cent, easier; medium crossbreds end coarEe crossbreds. 15 per cent, lower." LONDON METAL MAjfKKT. , Anstralian-New Zealand Cable Association, (Rcc. December 29, 11.15 p.m.) •■*''■ London, December 29. Copper-On spot, £106 12s. 6d. per ton; forward delivery. £108 7s. 6d.; electrolytic, £115; .wire and barß, £118; ber,t selected ' copper, £114 10a. Lead—On spot. £44 10s. per ton; forward delivery, £44 15s. Speiter.—On Bpot. £55 15s. per ton; forward delivery, £56 10s. 1 Tin—On spot. £2-23 10s. per ton; forward ; delivery. £351 2s. 6d. Bar Silver—77sd. per ounce standard ! ..... THE. ADVANCE IN SILVER. Tho cabled quotation for bar silver last i week was 79Jd. per ounce standard, whilo before tho war the prico ranged between I 24d. and 26d. per ounce. The exchange value of the rupee 18 now 2s. 41d., as com- ' pared with la. 4d. prior to the war. This . appreciation in tho exchange is affecting 1 Eastern, trade and adding considerably to the cost of Eastern produce, apart from the actual rise in tho price of commodities. 1 Tho tea planter in Ceylon, the Indian j peasant growing rice or jute, and those exporting such commodities want to bo paid in the currency of the country. Thus ; a" New Zealand merchant buying a thonl sand rupees' worth of tea has to pay i considerably, more than prior to tho war. When the rupee ptnpA at Is. 4d. the New Zealand merchant had to find £65 13s. 4d., plus the freight and insurance, to obtain his one thousand rupee tea shipment. ; For a similar shipment now he han to find £118 15s. plus freight and insurance. The freight charges are higher, and the prime cost of. tho tea. is liiuher; but the direct effect of tho adverse exchange- is that £52 ' Is. Bd. moro has to be paid for the same Quantity of tea than in the pre-war period, an increase of 78$ per cent. In !, view of tnis it is difficult to ceo how it will ';' be'possible to avoid a sharp incroase in j the prices of Eastern commodities. Tho ■ very high price of silver is proving a i strong temptation to melt silver coins, j and there is danger of such coin disappeari; mg in the melting-pot. It was estimated i Fome time ago that the price of bar silver ; would have to Teach ss. Bd. to give the ;. meltdrs of coins any.'profit, but that price i yas exceeded long since, and the price ■ last .week was 6s. 7Jd. per ounce. There Is every prospect of silver coins disappearL ing from.circulation, notwithstanding the I fact that it is illegal to melt down coins. i India, is the. great sink for the precious ;■ metals and precious stones. Tho use of j precious metals in artistic industry is ; bound up with the religious and marital j. customs of tho peoplo of India,, and these I _ customa cannot be upset by legislative Acts . and decrees. The d?n*md for purposes | M domestic and religious manufacture ;,. varies from year to year on account of I tho character of the seasons, the extent of ..: the great pilgrim fairs, and the astrologiI c . al Propitiouancss of the .times for n.nr- )•, nage. There is also o, great absorption ' fL I^ 63 , ?■*■ bar m silver beyond the f n™„Vf",i 0f - Y 1 *- I hs "'l"* is accepted practically, a I over the East, because it is ♦&L l l stern coll ' of silver-using countries which has not undergone depreciation U or debasement Jver a long series of rears India on her trade balance is abb to teT d -,* e W exchanges that is to * ay fhVZT '" into "'Mional trade is such .. that she has more to receive than to nav- !• m° w m fact .very much of a creditor' l dollJ: h ° Sta i ca antl Japan The Xf,r r "\ d l , he ru t"* change UI it ) ersfl '? Grr!at Britain and to the dominions with sterling currency e fl S bilblh y . th " «»ver eoins w 1 ife i Bh » wonder ihaftone - c&rt t noi : made to call in the damaged silver cons ■■• co^be n u'^ Sni S f jent for rccoCfr & S'V^ pears to be the „nW ™ l M ? yS ' CEI ap'international rn,!?. f, means , o£ "atoring change ountrieshavT 805 , w , h9r ? lo,v ex- I ' cxSmS I high Wi ' h tho£o

COMPANIES REGISTERED ■ cemba'/" n- D ' W- I'egistered Do- ■ immm of £1 ewh.' Sub*rib?r..'" ,5"7 29) and 100.' To Puko-lf. tWf 2*hT . Bcaslcy, fflO; H. 1!. Tailt, 250 Auckla'nd- ■ W. J. Mann, ICfl. Objects: To wr" on business af manufacture of cavity'con--1 crete building blocks and general inciaental.